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Buying home currently in foreclosure from mother

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Z

zmurdock

Guest
I currently live in New York State in a home that my mother owns. My mother has filed bankruptcy and the house is currently in foreclosure.The house is due to be auctioned on June 19.My husband and I have qualified for a loan to purchase the house however we are requirewd to come up with 5% down payment and 6% closing cost. Is there a way that we can purchase this property and because its being sold to a relative that the down payment and closing cost be absorbed into the loan? If not then is there a way where we are not required to come up with all of that money because my mother is the seller?
 



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